McLaren dismiss that Ron Dennis has been move down

McLaren has denied the latest report that chairman Ron Dennis has been move down from current position following the result of McLaren Automotive losing money.

Germany’s Auto Motor und Sport reported on Friday that Ron Dennis had been demoted to non-executive chairman as a consequence of McLaren Automotive losing money.

Following the report McLaren release a statement that he remains chairman of the boards of McLaren Group.

January 2009 the 65-year-old man stepping down from McLaren’s team principal on 1 March 2009, to be replaced by Martin Whitmarsh. Ron formed the modern McLaren – oversaw 10 drivers’ world titles and seven constructors’ titles before stepping down as team principal in 2009.

“A little over three years ago I signed a five-year contract with the company against the background that both then and now I am the joint second largest shareholder in the group with 25% – and I own 15% of automotive.” Dennis told BBC Sport

“My position for the first three years of my contract was executive chairman. At my request – I drafted the contract and agreed terms – my role went from executive chairman to non-executive chairman in January 2013.

“The difference in the job is I don’t have accountability for the actions of the management. I am the chairman of both of the boards – it gives me formal obligations – and a significant shareholder.”

“In boards throughout the world there are always things that are discussed. Some people agree, some people don’t. There has absolutely been no suggestion of my role in the company changing beyond the change of roles that took place as per my contract in January.”

The source asked whether there was any doubt that he would stay at McLaren until at least the end of his current contract, Dennis said: “Categorically, that is exactly what is going to happen – unless I request for it to be changed, and I don’t intend to. I couldn’t work any harder than I am on a variety of things.”